Amazon Cuts 16,000 Jobs in Broad Organizational Restructuring

Company Actions - Amazon is cutting approximately 16,000 jobs globally, marking one of the largest reductions in its history [1] - The layoffs are part of an effort to strengthen the organization by reducing layers, increasing ownership, and removing bureaucracy, according to Beth Galetti, Amazon's senior vice president [3] - Amazon emphasizes that these layoffs do not indicate further workforce reductions are planned, although teams will continue to reassess their organizational structure [3] Industry Trends - Amazon's layoffs reflect a broader trend across various industries, including financial services and technology, as companies recalibrate headcount while investing in automation and artificial intelligence [2][4] - Other companies, such as Citigroup and Nike, are also implementing job cuts due to similar technological advancements, with Citigroup planning additional layoffs and Nike cutting 775 distribution center jobs [4][5] - A significant increase in layoffs has been observed, with a 175% year-over-year rise in U.S. layoffs in October attributed to AI adoption and cost-cutting measures [6]